HOUSTON—Reserve at Greens Crossing I and II is a 158,435-square-foot campus located in the Greens Crossing section of Greenspoint at 11410 Greens Crossing Blvd., governed by deed restrictions imposed by Exxon, the original owner of the office park. The buildings are currently owned by a joint venture between Miami-based Banyan Street Capital and funds managed by Oaktree Capital Management.
The park was completed in 2001 by developer, Simmons Vedder Partners and architect, House Reh Burwell Architects. The buildings were designed with large and efficient open concept floor plates with 120-foot bay depths and 11.5-foot ceiling heights. Both buildings are connected with conduit, allowing a tenant to more easily expand into the sister building. The project was built with the needs of technology in mind, with redundant energy from two separate substations offering 11-plus watts per usable square foot, redundant fiber optic feeds from adjacent roads and five fiber optic companies in the area, GlobeSt.com learns.
The two buildings at the Reserve at Greens Crossing II are of concrete tilt-wall, steel frame construction with a greater than normal portion of the buildings' exteriors being wrapped with ¼-inch high-performance, reflective glass. Additional features include extensive landscaping, limestone-colored concrete tilt-wall with architectural reveals and prominent monument signage for tenants, according to W2 Real Estate Partners. The parking ratio is 6:1,000.
The buildings are next to other multi-story buildings within the Greater Greenspoint Management District. The property provides access to both Beltway 8 and Interstate 45, and is in proximity to numerous restaurants and George Bush Intercontinental Airport.
Transwestern recently leased 41,000 square feet at the complex to Vantiv LLC, a Cincinnati-based credit card processing company. The Vantiv lease brings the occupancy of Reserve at Greens Crossing up to 75% from 50%.
Transwestern's Michelle Wogan and Monte Calvert are leasing the property and negotiated the deal on behalf of the ownership. Vantiv was represented by David Guion with Cushman & Wakefield.
“We have seen an increase of activity with call center tenants in the market looking for unique opportunities such as these to accommodate an above-average parking ratio,” said Wogan. “This park is a perfect location for tenants such as these since most of the product is conducive to high-density tenants and all the utilities are buried in the park.”
Single-story office offers important advantages to tenants, the most valuable being a lower cost structure as a result of lower CAM charges, lower HVAC sots, more efficient and flexible space planning and a lower common area factor, according to W2 Real Estate Partners.
As previously reported, Columbia Property Trust has exited the Houston office market.
HOUSTON—Reserve at Greens Crossing I and II is a 158,435-square-foot campus located in the Greens Crossing section of Greenspoint at 11410 Greens Crossing Blvd., governed by deed restrictions imposed by Exxon, the original owner of the office park. The buildings are currently owned by a joint venture between Miami-based Banyan Street Capital and funds managed by Oaktree Capital Management.
The park was completed in 2001 by developer, Simmons Vedder Partners and architect, House Reh Burwell Architects. The buildings were designed with large and efficient open concept floor plates with 120-foot bay depths and 11.5-foot ceiling heights. Both buildings are connected with conduit, allowing a tenant to more easily expand into the sister building. The project was built with the needs of technology in mind, with redundant energy from two separate substations offering 11-plus watts per usable square foot, redundant fiber optic feeds from adjacent roads and five fiber optic companies in the area, GlobeSt.com learns.
The two buildings at the Reserve at Greens Crossing II are of concrete tilt-wall, steel frame construction with a greater than normal portion of the buildings' exteriors being wrapped with ¼-inch high-performance, reflective glass. Additional features include extensive landscaping, limestone-colored concrete tilt-wall with architectural reveals and prominent monument signage for tenants, according to W2 Real Estate Partners. The parking ratio is 6:1,000.
The buildings are next to other multi-story buildings within the Greater Greenspoint Management District. The property provides access to both Beltway 8 and Interstate 45, and is in proximity to numerous restaurants and George Bush Intercontinental Airport.
Transwestern recently leased 41,000 square feet at the complex to
Transwestern's Michelle Wogan and Monte Calvert are leasing the property and negotiated the deal on behalf of the ownership. Vantiv was represented by David Guion with Cushman & Wakefield.
“We have seen an increase of activity with call center tenants in the market looking for unique opportunities such as these to accommodate an above-average parking ratio,” said Wogan. “This park is a perfect location for tenants such as these since most of the product is conducive to high-density tenants and all the utilities are buried in the park.”
Single-story office offers important advantages to tenants, the most valuable being a lower cost structure as a result of lower CAM charges, lower HVAC sots, more efficient and flexible space planning and a lower common area factor, according to W2 Real Estate Partners.
As previously reported, Columbia Property Trust has exited the Houston office market.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
